IBN boosts market with N10b investment

An insurance broking firm, Insurance Brokers of Nigeria Limited, has invested over N10 billion in the insurance market.

Its Executive Vice Chairman, Prosper Okpue, who spoke at a media parley in Lagos, said the fund has enabled the firm to have access to key decision makers of all insurance companies and negotiate the best deal for its clients, whether on programme pricing, robust cover or claims settlement.

The parley was aimed at reviewing the operations of the company in its 62 years of existence.

He also stated that the firm will be unveiling a new brand identity this month, stressing that the new brand identity is a resurgence of the firm’s commitment to its clients that it will be around for another 62 years as a truly independent company, focused on helping her clients venture boldly with confidence and maximise opportunities created from their enterprises.

He added that the company has partnered with UNiBA, a leading global network of independent insurance and reinsurance brokers in over 100 countries in the world.

According to Okpue, the firm’s specialty service ranges from personal and private wealth management to commerce and heavy industries. He said: “Our new IBN brand identity is a demonstration of our resolve to continue to serve our clients, with knowledge of the past, present and our ability to bring the future today.

The firm is 62 years old and we are repositioning to meet current trends and remain afloat for many years to come. The firm is Nigeria’s premier insurance broking and risk advisory firm established in 1955 as C.T. Bowring & Company (Incorporated Insurance Brokers). It pioneered insurance broking in Nigeria in 1955 and has remained in the forefront of providing innovating collaborative solutions to various strategy sectors of the country.

“It has fully integrated risk management and insurance broking and ranks top amongst the most respected broking firms in the country. We leverage on our historical experience of Nigeria and our deep understanding of its business dynamics to help our clients make the right decisions for their businesses.

“Our strength is our unparalleled local knowledge with global experience and commitment to deliver specialty services as invaluable partner in providing seamless support to meeting your risk and insurance management objectives,” he noted.